ECO/561 561 – List the major wireless phone handset manufacturers and respond to the

| September 14, 2018

University of PhoenixECO/561 5611. List the major wireless phone handset manufacturers and respond to the following questions -What is the market structure? What pricing strategies do wireless phone handset manufacturers use? How do wireless phone makers attempt to differentiate their handset offerings?2. What market structure best characterizes the market in which University of Phoenix competes? How does this structure influence the university’s pricing strategy? How does University of Phoenix differentiate its product from that of its competitors? Can University of Phoenix do more to create nonprice barriers to entry in this market? Why or why not?3. When using nonprice barriers, you might encounter ethically challenging situations. How can an organization maintain market power and align with current values, legal requirements, and ethical standards? Locate a recent news, journal, popular press, reputable blog, or scholarly article pertaining to this topic and describe the ethical dilemma the organization faces. Reflect on how ethics and current values affect current business decisions.4. I am in a segment of the market that when shopping will always consider a generic/substitute in order to save money. I do not care if a professional athlete sponsors my shoes or I have to wear name brand clothing (my 17 year old son would disagree) – it is about getting something that looks good on me and is a quality product. Not everyone has the same philosophy and that is what makes the economy grow – different companies serve different markets. Question, will you always stay in the same segment of the market (price-conscience or quality first)? Why or why not?5. Businesses can be affected by different variables. If you are in the restaurant business that has its location on the beach in a resort city one of these variables is unforeseen environmental changes. Your focus is on giving customers quality food with a view. Your outdoor access gives you an advantage your competitors cannot match. There is forecast for a stormy week and your outdoor area cannot be used. More seriously is the prediction that there will be an unusual pattern of rain (El Nino) that translates to less business, which means less business revenue. The rainfall limits seating within the restaurant, increases wait times, and decreases customer satisfaction which translates to loss of immediate revenue and potential future revenue.As a manager of a restaurant on the beach, you need to be prepared and proper planning includes the two biggest costs for a restaurant – food orders and staffing levels. How are you going to achieve this with the goal of maximizing profits?6. AT&T’s history as being a monopoly stems from years ago when it acquired Bell companies for the long distance communications. From a business point of view, one could argue that the antitrust law discriminates successful businesses and rewards the inefficiencies of smaller companies. Is it right for the government to step in? Isn’t the government supposed to protect consumers? Is this a protection or is this government intervening where it doesn’t need to be?7. It was mentioned that Porsche’s approach towards pricing was researching threats and customer loyalty for long term sustainability of the company’s product. One of Porsche’s competitors seems to have a similar approach. What do you think of the article about Ferrari’s new product? Does the pricing approach seem to be working for both Porsche and Ferrari? Explain.Just a reminder as much as I love to talk cars, let’s keep the focus of our discussion on the economic concepts! Discussion posts that do not focus on economic concepts may not be considered Substantive!http://www.nbcnews.com/business/laferrari-fastest-most-expensive-totally-sold-out-2D116915918. Ethics and legality sometimes are distant, while other times there is a very fine line. Let’s take price collusion and price fixing. What are the differences between these two similar pricing strategies?Why might price collusion occur in oligopolistic industries? Assess the economic desirability of collusive pricing. What are the main obstacles to collusion?Speculate as to why price leadership is legal in the United States, whereas price fixing is not. Please be specific.

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